Short Interest in Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) Increases By 9.0%

Evolv Technologies Holdings, Inc. (NASDAQ:EVLV) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 8,580,000 shares, an increase of 9.0% from the March 31st total of 7,870,000 shares. Based on an average daily trading volume, of 1,600,000 shares, the days-to-cover ratio is currently 5.4 days. Approximately 8.2% of the shares of the company are short sold.

Insider Activity at Evolv Technologies

In other Evolv Technologies news, insider Anil Chitkara sold 50,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $5.00, for a total transaction of $250,000.00. Following the completion of the transaction, the insider now owns 1,200,157 shares in the company, valued at $6,000,785. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael Ellenbogen sold 54,873 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $5.04, for a total transaction of $276,559.92. Following the sale, the insider now owns 1,975,473 shares of the company’s stock, valued at approximately $9,956,383.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Anil Chitkara sold 50,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $5.00, for a total transaction of $250,000.00. Following the transaction, the insider now directly owns 1,200,157 shares in the company, valued at approximately $6,000,785. The disclosure for this sale can be found here. 10.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Evolv Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in EVLV. MCF Advisors LLC raised its holdings in shares of Evolv Technologies by 84.5% in the 1st quarter. MCF Advisors LLC now owns 6,549 shares of the company’s stock worth $29,000 after purchasing an additional 3,000 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Evolv Technologies in the 3rd quarter worth approximately $49,000. Worth Financial Advisory Group LLC bought a new position in Evolv Technologies in the 4th quarter valued at $50,000. Worth Venture Partners LLC bought a new position in shares of Evolv Technologies in the 4th quarter worth $53,000. Finally, Bleakley Financial Group LLC acquired a new stake in shares of Evolv Technologies in the 4th quarter valued at about $67,000. Institutional investors and hedge funds own 66.65% of the company’s stock.

Evolv Technologies Stock Performance

EVLV stock traded down $0.07 during trading on Tuesday, hitting $3.99. The company had a trading volume of 279,011 shares, compared to its average volume of 1,428,867. Evolv Technologies has a 12 month low of $3.28 and a 12 month high of $8.30. The firm has a 50-day moving average price of $4.09 and a 200-day moving average price of $4.30.

Evolv Technologies (NASDAQ:EVLV) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.03. Evolv Technologies had a negative net margin of 132.13% and a negative return on equity of 47.56%. The company had revenue of $21.82 million for the quarter, compared to analyst estimates of $18.81 million. Analysts forecast that Evolv Technologies will post -0.48 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Cantor Fitzgerald restated an “overweight” rating and set a $8.00 price objective on shares of Evolv Technologies in a report on Thursday, March 28th.

Evolv Technologies Company Profile

Evolv Technologies Holdings, Inc provides artificial intelligence (AI)-based weapons detection for security screening in the United States and internationally. Its products include Evolv Express, a touchless security screening system designed to detect firearms, improvised explosive devices, and tactical knives; and Evolv Insights that provides self-serve access, insights regarding visitor flow and arrival curves, location specific performance, system detection performance, and alarm statistics.